Indian share market June 22, 2009

On June 22, 2009, Indian share market observed huge losses. Price of shares fell as investors continue profit booking. Moreover, poor performance of the share markets in Europe and America affected the investors. Shares of Reliance Industries observed a steep drop in prices as the company lost the gas distribution case against Reliance Natural Resources. Foreign investors who bought shares of Reliance Industries started to sell them.

Today, the Sensex of the Bombay Stock Exchange (BSE) ended at 14,326.22 points. It hit an intraday low of 14269.77 points and high of 14668.40 points. On the other hand, Nifty of the National Stock Exchange closed at 4235.25 points. It hit an intra-day low of 4221.90 points and a high of 4352.25 points. Analysts are expecting that Nifty would further fall below 4000 levels in the next four or five trading sessions and started moving upwards from there.

At BSE, indices remained flat and did not see much upward movement. BSE Midcap Index went down 0.57% and BSE Smallcap Index went down 0.33%. BSE Oil &Gas Index fell 3.33%. BSE Metal Index downed 2.38% and BSE Power Index slipped 2.47%. However, BSE FMCG (Fast Moving Consumer Goods) Index advanced 0.49%.

At BSE share prices of 1493 companies went down and 1114 companies advanced.

Companies who observed a drop in their share prices at the BSE are:

• Tata Power share prices slipped 5.51%.
• Reliance Industries 5.22%
• Hindalco Industries 5.16%
• Ambuja Cements 4.64%
• Grasim Industries 4.54%

Companies whose share prices advanced at NSE are:

• ICIC Bank 2.09%
• Maruti Suzuki 1.53%
• ITC 1.17%
• Axis Bank 1.04%
• Larsen & Toubro 1%

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The Economic Times